Redmont Wealth Advisors LLC Lowers Position in Alico, Inc. (NASDAQ:ALCO)

Redmont Wealth Advisors LLC lowered its position in Alico, Inc. (NASDAQ:ALCO) by 4.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,614 shares of the company’s stock after selling 963 shares during the quarter. Redmont Wealth Advisors LLC’s holdings in Alico were worth $483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Harbor Advisors LLC acquired a new stake in Alico during the 3rd quarter worth about $215,000. Barclays PLC lifted its holdings in shares of Alico by 229.2% during the third quarter. Barclays PLC now owns 9,336 shares of the company’s stock worth $261,000 after purchasing an additional 6,500 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Alico by 50.9% during the third quarter. JPMorgan Chase & Co. now owns 13,140 shares of the company’s stock worth $368,000 after purchasing an additional 4,432 shares during the period. Empowered Funds LLC boosted its position in Alico by 5.4% in the third quarter. Empowered Funds LLC now owns 15,797 shares of the company’s stock valued at $442,000 after buying an additional 804 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Alico by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,185 shares of the company’s stock worth $537,000 after buying an additional 700 shares during the period. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Alico Price Performance

Shares of ALCO opened at $30.96 on Thursday. The company has a market capitalization of $236.53 million, a P/E ratio of 33.65 and a beta of 0.80. Alico, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $34.08. The business’s 50-day moving average is $27.40 and its two-hundred day moving average is $27.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.99 and a current ratio of 3.81.

Alico Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.05 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.20 annualized dividend and a dividend yield of 0.65%. Alico’s dividend payout ratio (DPR) is 21.74%.

Alico Company Profile

Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates in two segments, Alico Citrus, and Land Management and Other Operations. The Alico Citrus segment engages in planting, owning, cultivating, and/or managing citrus groves to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing, and hauling of citrus.